Entrepreneurship EOY Vocab. Test

What is the process of effectively working together in group settings?

• Management

• Cooperation

• Accounting

• Finance

What is the department responsible for the management process?

• Marketing

• Production

• Management

• Distribution

What is the process of recording, classifying, summarizing and reporting the financial position of a business?

• Accounting

• Finance

• Assets

• Liabilities

What are items of value owned by a business called?

• Capital

• Assets

• Liabilities

• Equity

What are the debts or obligations of a business called?

• Equity

• Capital

• Liabilities

• Assets

What is the department responsible for managing the use of company funds?

• Finance

• Marketing

• Production

• Management

What is the department responsible for creating products which meet consumer wants and needs?

• Management

• Distribution

• Production

• Marketing

What is the department responsible for producing goods and services in the most efficient and cost-effective manner?

• Distribution

• Production

• Management

• Marketing

What is the department responsible for distributing goods and services in the most efficient and cost-effective manner?

• Marketing

• Distribution

• Management

• Production

What is a written map for beginning and growing a business called?

• Business Plan

• Mission

• Objectives

• Goals